"The land cost me BD600,000 and the construction was over BD3 million. The building was going to be opened in about 10 to 12 days - now it is going to take forever to deal with the insurance companies before I can start construction again. The exact cost of the damage will take days to figure out."

He added the property would now have to be assessed for structural damage in the coming days.

NSA Bahrain Fire Rescue chief Will Shanholtzer said it responded as part of a mutual agreement with the local authorities.

"The building went up in flames fast because the whole outside of the building is coated in petroleum-based insulation," he explained.

"The urethane insulation siding was used to insulate the whole building and it is very flammable when exposed, so once part of it caught fire the rest did."

Shanholtzer revealed the main concern was that a massive crane attached to the building, which appeared to be pitching to the right, could fall.

"If the temperature of the metal on the crane reaches 1,300F (704C) the crane is likely to fall," he said. – TradeArabia News Service